FY2024 Earnings Estimate for AXSM Issued By Zacks Research

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Equities researchers at Zacks Research decreased their FY2024 earnings estimates for Axsome Therapeutics in a research report issued to clients and investors on Tuesday, December 3rd. Zacks Research analyst R. Department now expects that the company will post earnings per share of ($5.32) for the year, down from their previous estimate of ($5.16). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.58) per share. Zacks Research also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.65) EPS, Q1 2025 earnings at ($1.69) EPS, Q2 2025 earnings at ($1.56) EPS, Q3 2025 earnings at ($1.12) EPS, Q4 2025 earnings at ($1.03) EPS, FY2025 earnings at ($5.41) EPS, Q1 2026 earnings at ($0.51) EPS, Q2 2026 earnings at ($0.09) EPS, Q3 2026 earnings at $0.26 EPS and FY2026 earnings at $0.13 EPS.

Several other equities research analysts have also weighed in on AXSM. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday, September 16th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research report on Monday, November 25th. Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $100.10 on Friday. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The firm has a 50-day simple moving average of $92.44 and a 200 day simple moving average of $86.61. Axsome Therapeutics has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. The company has a market cap of $4.85 billion, a PE ratio of -15.33 and a beta of 1.18.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The company had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same period in the prior year, the company earned ($1.32) earnings per share.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Axsome Therapeutics by 20.6% during the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock valued at $97,786,000 after acquiring an additional 185,951 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Axsome Therapeutics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock valued at $81,659,000 after purchasing an additional 23,564 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after purchasing an additional 8,125 shares during the last quarter. Millennium Management LLC boosted its holdings in Axsome Therapeutics by 1.4% in the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock worth $59,555,000 after purchasing an additional 10,401 shares in the last quarter. Finally, Hood River Capital Management LLC increased its position in Axsome Therapeutics by 5.4% during the second quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock worth $44,200,000 after buying an additional 28,316 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.40% of the stock is currently owned by corporate insiders.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.